Daily Insurance Industry News
 
 
Daily Insurance Industry News
Monday 21st of August 2017
November 26, 2007

Car insurance premiums higher for the famous

by Richard Kilner

Story link: Car insurance premiums higher for the famous

Research conducted by elephant.co.uk has revealed that although millions aspire to the status of celebrity, the reality of being one is not great for car insurance premiums.

From now on ‘celebrity’ will be available as an occupation option on the website, to try and correctly categorise the large and growing number of people who acquire fame through non-traditional means such as through TV talent competitions and reality shows, or through marrying a famous individual.

The site’s MD, Brian Martin, said the site had moved to introduce the new option so that people could be categorised more accurately.

Martin went on to say that although many aspire to celebrity there are downsides, one of which is the cost of car insurance. He said that celebrities have to pay more for such things simply due to the fact that they are famous.

He did, however, say that another reason for such high premiums is due to the prohibitively high costs that would follow should an accident occur, particularly if multiple famous people were involved.

Despite the positive way many people view celebrity, when it comes to car insurance premiums it’s a punitive career to have, with more orthodox occupations commanding more competitive insurance.

Jade Goody has an insurance premium that is 22% higher as a ‘celebrity’ than she would have paid in her previous occupation of nurse. Brian Belo, who won Big Brother, was previously a clerk, and his current premium is 40% higher than it would have been had he remained one.

 

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